Western Wealth Capital Acquires Park Place Townhomes in Euless, Texas
September 9, 2025
Growth-oriented multifamily real estate investment company seizes timely opportunity with the acquisition of a rare townhome community in prime Dallas-Fort Worth location.
Phoenix, Arizona (September 9th, 2025) – Western Wealth Capital (WWC) announces the closing of its 130th real estate acquisition – Park Place Townhomes in Euless, Texas. This is Western Wealth Capital’s 22nd multifamily acquisition in the Dallas-Fort Worth market.
WWC and its investment partners closed on the 97-unit multifamily community of Park Place Townhomes. The transaction was advantageously purchased off market with the assistance of Brian Murphy of Newmark Dallas. StepStone Real Estate (“SRE”), the real estate arm of private markets investment firm StepStone Group (Nasdaq: STEP), is a major equity partner in the transaction. Park Place is a follow-on investment into an existing WWC/SRE joint-venture initiated by a broader GP-led portfolio recapitalization in 2024.
Built in 1980, Park Place Townhomes features spacious two-story units with an average size of 1,116 square feet, offering residents a comfortable and well-designed living experience. As part of the acquisition, WWC assumes a 3.07% fixed-rate mortgage from the previous owner—resulting in an estimated $1.6 million in interest savings over the loan term compared to current market rates. The loan assumption was handled by Katie Runyan of Walker & Dunlop.
This Dallas-area acquisition strengthens WWC’s presence in the U.S. multifamily housing market and reflects the firm’s disciplined investment approach. Ideally situated between Dallas and Fort Worth, the property is just six minutes from Dallas-Fort Worth International Airport and within close proximity to major employers such as American Airlines headquarters, Lockheed Martin, and AT&T Stadium—all reachable within a 23-minute drive.
“This acquisition comes at an opportune time in the market cycle,” said Jay O’Connor, Vice President of Acquisitions at WWC. “We’re acquiring this asset at 42% below current replacement cost, which presents a compelling opportunity for equity growth and attractive returns.”
Doug Mather, WWC’s Chief Investment Officer, echoed this sentiment: “We’re seeing clear buying signals in the market, with property values down 30–40% from their peak, rent growth poised to rebound, and job growth remaining strong. Park Place Townhomes offers a rare chance to invest near the bottom of the market in a highly desirable product located in a prime area.”
About Western Wealth Capital
WWC has developed a proven system for investing in multifamily properties in key real estate markets across the U.S. WWC offers investment partners the opportunity to invest in properties with substantial value-add opportunities. Since its inception, WWC has successfully completed more than $6.4 billion in real estate transactions, acquiring 130 multifamily assets representing more than 29,000 total units.
WWC’s vision is to build wealth for its investment partners with exceptional returns. A people-first approach promotes excellence at every point; with highly efficient operations and a true commitment to our communities. The company’s current portfolio of assets under management includes 35 multifamily rental buildings across five different U.S. metropolitan areas located in the sun-belt region.
About StepStone Group
StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of June 30, 2025, StepStone was responsible for approximately $723 billion of total capital, including $199 billion of assets under management. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.
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No securities commission or similar regulatory authority has reviewed this content. In considering the prior performance information contained herein, prospective investors should bear in mind that past performance is not necessarily indicative of future results, and there can be no assurance that Western Wealth Capital will achieve comparable results. This press release includes forward-looking statements. All statements other than statements of historical facts included in this document, including, without limitation, statements regarding the future financial position, targeted or projected investment returns and business strategy are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “forecasted,” “projected,” “estimate,” “anticipate,” “believe,” or “continue” or the negative usages thereof or variations thereon or similar terms. Forward-looking statements reflect our current expectations and assumptions as of the date of the statements, and are subject to a number of known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause actual results, performance or achievements to be materially different from any anticipated future results, performance or achievements expressed or implied by the forward-looking statements. Although we believe that the assumptions on which the forward-looking statements are made are reasonable, based on the information available to it on the date such statements were made, no assurances can be given as to whether these assumptions will prove to be correct. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained are expressly qualified in their entirety by this cautionary statement. No representation or warranty is made to the accuracy or completeness of any of the information contained herein.
